Weir Group (LON:WEIR) was downgraded by equities researchers at Credit Suisse Group to a “neutral” rating in a report issued on Thursday. They currently have a GBX 2,200 ($29.83) price target on the stock, down from their prior price target of GBX 2,300 ($31.19). Credit Suisse Group’s price objective would suggest a potential upside of 0.18% from the stock’s current price.
Other analysts have also recently issued reports about the company. Deutsche Bank reissued a “buy” rating and issued a GBX 2,220 ($30.11) price target on shares of Weir Group in a report on Wednesday, November 1st. Peel Hunt raised their price target on Weir Group from GBX 2,100 ($28.48) to GBX 2,300 ($31.19) and gave the company a “buy” rating in a report on Tuesday, October 31st. reissued a “buy” rating and issued a GBX 2,300 ($31.19) price target on shares of Weir Group in a report on Friday, September 29th. Citigroup reissued a “buy” rating and issued a GBX 2,350 ($31.87) price target on shares of Weir Group in a report on Tuesday, September 26th. Finally, Canaccord Genuity reissued a “buy” rating and issued a GBX 2,200 ($29.83) price target on shares of Weir Group in a report on Monday, November 20th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of GBX 2,117.65 ($28.72).
Shares of Weir Group (LON WEIR) opened at GBX 2,196 ($29.78) on Thursday. The company has a market capitalization of $4,920.00 and a P/E ratio of 7,320.00. Weir Group has a 1-year low of GBX 1,696 ($23.00) and a 1-year high of GBX 2,326 ($31.54).
In related news, insider Barbara Jeremiah purchased 250 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was bought at an average price of GBX 2,016 ($27.34) per share, with a total value of £5,040 ($6,834.83).
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About Weir Group
The Weir Group PLC is a United Kingdom-based company, which is engaged in engineering businesses. The Company’s business operates through three segments: Minerals, Oil & Gas, and Flow Control. The Minerals segment is engaged in the provision of slurry handling equipment and associated aftermarket support for abrasive high wear applications used in the mining and oil sands markets.
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